BATU KAWAN (April 11): The medical devices sector recorded RM15.5 billion in export revenue in 2015, up by 15% from 2014, said Malaysian Investment Development Authority chief executive officer Datuk Azman Mahmud.

He told reporters at the New York-listed Boston Scientific Corp ground breaking ceremony here today that the country expects growth in the sector to increase more this year as Malaysia is proving itself to as the hub for medical devices, particularly the northern region.

According to the National Export Council, revenues from the export are projected to increase to RM26 billion by 2020.

"In this regard, industry players in Malaysia will be able to enhance their exports by capitalising on the liberalisation of markets such as Association of Southeast Asian (ASEAN), facilitating access to the region's 620-million strong market," said International Trade and Industry Minister Datuk Seri Mustapa Mohamed, whose speech was read out by his deputy Datuk Lee Chee Leong.

Lee, who later officiated at the ground breaking ceremony, said the target for this sector was to create RM17.1 billion revenue and RM11.4 billion gross national income as well as generate 86,000 new job opportunities by 2020.